No Immediate Need for Liquidity. The Subscriber understands --------------------------------- that the Common Stock is a "restricted security" within the meaning of the Act, and certificates representing the Common Stock are legended with certain restrictions on the resale of the Common Stock and the Common Stock may not be resold without a valid exemption from registration under the Act, or until a registration statement is filed with respect thereto under the Act. There can be no assurance that upon registration of the Common Stock pursuant to the Act, that a market for the Common Stock will exist on an exchange or market or quotation system. Accordingly, the Subscriber is aware that there are legal and practical limits on the Subscriber's ability to sell or dispose of the Common Stock, and, therefore that the Subscriber must bear the economic risk of the investment for an indefinite period of time. The Subscriber has adequate means of providing for the Subscriber's current needs and possible personal contingencies and has need for only limited liquidity of this investment. The Subscriber's commitment to illiquid investments is reasonable in relation to the Subscriber's net worth. The Subscriber is capable of bearing the high degree of economic risks and burdens of this investment, including but not limited to the possibility of complete loss of all its investment capital and the lack of a liquid market, such that it may not be able to liquidate readily the investment whenever desired or at the then current asking price.
No Immediate Need for Liquidity. The Purchaser understands that the Securities are not currently traded on any stock exchange, and may never be traded on a stock exchange. Purchaser is familiar with the requirements of Rule 144 and the restrictions on resales of non-public securities. Accordingly, the Purchaser is aware that there are legal and practical limits on the Purchaser’s ability to sell or dispose of the Securities, and, therefore, that the Purchaser must bear the economic risk of the investment for an indefinite period of time. The Purchaser has adequate means of providing for the Purchaser’s current needs and possible personal contingencies and has need for only limited liquidity of this investment. The Purchaser’s commitment to illiquid investments is reasonable in relation to the Purchaser’s net worth.
No Immediate Need for Liquidity. Each Purchaser understands that each of the Preferred Shares and Conversion Shares is a “restricted security” within the meaning of the Securities Act, and certificates representing the Preferred Shares and Conversion Shares are legended with certain restrictions on resale and may not be resold without a valid exemption from registration under the Securities Act, or until a registration statement is filed with respect thereto under the Securities Act. There can be no assurance that upon registration of the Conversion Shares pursuant to the Securities Act, that a market for the Conversion Shares will exist on an exchange or market or quotation system. Accordingly, each Purchaser is aware that there are legal and practical limits on such Purchaser’s ability to sell or dispose of the Conversion Shares, and, therefore that the Purchaser must bear the economic risk of the investment for an indefinite period of time. Each Purchaser has adequate means of providing for the Purchaser’s current needs and possible personal contingencies and has need for only limited liquidity of this investment. The Purchaser’s commitment to illiquid investments is reasonable in relation to the Purchaser’s net worth. The Purchaser is capable of bearing the high degree of economic risks and burdens of this investment, including but not limited to the possibility of complete loss of all its investment capital and the lack of a liquid market, such that it may not be able to liquidate readily the investment whenever desired or at the then current asking price.
